Contraction of Japan's Housing Market Due to Population Decline
First written in FY2016. 17 of 33 entries say "Restated". Latest entry: 2026-11-11.
Daiwa House Industry moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 17 of 23 companies on the "Worse" side.
1 other company's latest entry also says "Softened".
- FY2026RestatedAnnual report
「In Japan's housing market, cumulative new housing starts from April 2025 through March 2026 declined across owner-occupied, rental and for-sale housing, resulting in an overall year-on-year decline.」
The company maintained its assessment that owner-occupied, rental and for-sale housing starts all declined and that the overall domestic housing market also fell year on year. - 2026-05-13RestatedResults
「In Japan's housing market, cumulative new housing starts from April 2025 through March 2026 declined across owner-occupied, rental and for-sale housing, resulting in an overall year-on-year decline.」
持家・貸家・分譲住宅の全用途減少と市場全体の前年比マイナスを、通期実績として再確認した。 - FY2026-H1WorsenedAnnual report
「In Japan's housing market, cumulative new housing starts from April 2025 through September 2025 declined year on year across owner-occupied, rental and for-sale housing, resulting in an overall year-on-year decline.」
While rental housing starts had increased year on year in the previous filing, during the current six-month consolidated accounting period all categories, including owner-occupied, rental and for-sale housing, declined, and the overall market also declined year on year. - FY2025-H1SoftenedAnnual report
「In Japan's housing market, rental housing starts increased year on year, but owner-occupied and for-sale housing starts declined, resulting in a slight overall year-on-year decline.」
The market assessment changed from the previous view that all categories, including owner-occupied, rental and for-sale housing, had declined year on year, as rental housing starts turned positive year on year and the overall decline was described as slight. - FY2024-Q3RestatedAnnual report
「In Japan's housing market, owner-occupied, rental and for-sale housing starts all declined year on year.」
New housing starts declined year on year across all categories, including owner-occupied, rental and for-sale housing, continuing to indicate weakness in Japan's housing market. - FY2024-Q2WorsenedAnnual report
「In Japan's housing market, owner-occupied, rental and for-sale housing starts all declined year on year.」
From the previous quarter's decline in owner-occupied and for-sale housing starts, all categories, including owner-occupied, rental and for-sale housing, declined year on year, indicating weakness in Japan's housing market. - FY2024-Q1WorsenedAnnual report
「In Japan's housing market, rental housing starts increased year on year, but for-sale and owner-occupied housing starts declined, resulting in an overall year-on-year decline.」
The assessment changed from the previous view that rental and for-sale housing starts were positive year on year while owner-occupied housing starts declined, as for-sale housing starts also declined and the overall market fell year on year. - FY2023-Q3RestatedAnnual report
「In Japan's housing market, rental and for-sale housing starts increased year on year, but owner-occupied housing starts declined, resulting in an overall year-on-year decline.」
The company continues to recognize that, despite year-on-year increases in rental and for-sale housing starts, total new housing starts declined year on year due to the decline in owner-occupied housing starts. - FY2023-Q2RestatedAnnual report
「In Japan's housing market, rental and for-sale housing starts increased year on year, but owner-occupied housing starts declined, resulting in an overall year-on-year decline.」
While rental and for-sale housing starts increased year on year, total new housing starts declined year on year due to the decline in owner-occupied housing starts, continuing to indicate weakness in the housing market. - FY2023-Q1WorsenedAnnual report
「In Japan's housing market, rental housing starts increased year on year, but owner-occupied housing starts declined, resulting in an overall year-on-year decline.」
The assessment changed from the previous fiscal year, when owner-occupied, rental and for-sale housing starts had all increased year on year, to an assessment that owner-occupied housing starts declined in the first quarter and the overall market also declined year on year. - FY2022SoftenedAnnual report
「In Japan's housing market, interest in purchasing homes has risen against the backdrop of housing acquisition support measures and changes in lifestyles, and owner-occupied, rental and for-sale housing starts all increased year on year.」
While the medium- to long-term risk of market contraction due to a decline in the number of households remains, all owner-occupied, rental and for-sale housing starts increased year on year in the current market, moderating the assessment of market weakness in the previous filing. - FY2022-Q3RestatedAnnual report
「In Japan's housing market, interest in purchasing homes has risen against the backdrop of housing acquisition support measures and changes in lifestyles, and owner-occupied and rental housing starts have continued to increase year on year.」
While facing the risk of market contraction due to a medium- to long-term decline in the number of households, the company continues to recognize that owner-occupied and rental housing starts have remained positive year on year. - FY2022-Q2SoftenedAnnual report
「Meanwhile, in Japan's housing market, owner-occupied and rental housing starts have continued to increase year on year, indicating a recovery. Interest in purchasing homes has risen against the backdrop of housing acquisition support measures and changes in lifestyles, creating new demand.」
While the medium- to long-term risk of a decline in the number of households remains, owner-occupied and rental housing starts have continued to increase year on year, indicating an ongoing recovery in the housing market. - FY2022-Q1SoftenedAnnual report
「In the housing market, owner-occupied and rental housing starts both turned positive year on year, and total housing starts also increased for the first time in 4 years in the first quarter, indicating a recovery. Interest in purchasing homes has risen against the backdrop of housing acquisition support measures and changes in lifestyles, creating new demand.」
While the medium- to long-term risk of a decline in the number of households remains, owner-occupied and rental housing starts turned positive year on year, and total housing starts in the first quarter increased for the first time in 4 years, moderating the assessment of current market conditions. - FY2021-Q3RestatedAnnual report
「In the housing market, owner-occupied, rental and for-sale housing starts all declined year on year.」
Owner-occupied, rental and for-sale housing starts all declined year on year, continuing to indicate weakness in the housing market. - FY2021-Q2WorsenedAnnual report
「In the housing market, new housing starts declined year on year across all categories.」
The description has changed from a decline in the overall market or in some categories to a statement that, during the cumulative period of the current quarter, new housing starts declined year on year across all categories. - FY2021-Q1RestatedAnnual report
「In the housing market, condominiums were the only category in which new housing starts increased year on year, while the overall market declined year on year.」
The company states that new housing starts declined year on year across the overall market, including categories other than condominiums. - FY2020WorsenedAnnual report
「Looking ahead to Japan 10 years from now, housing demand is forecast to decline by approximately 40% as the population decreases.」
The risk of a contraction in the housing market due to population decline was made more specific through the numerical forecast that housing demand will decline by approximately 40% in 10 years. - FY2020-Q3RestatedAnnual report
「In the housing market, various housing acquisition support measures, including the extension of the mortgage tax deduction period effective from October 2019 and the Next-Generation Housing Points System, are expected to contribute to market revitalization. However, the outlook remains uncertain, with owner-occupied housing starts recently turning lower. In addition, the number of new housing starts is expected to decline over the medium to long term as the number of households decreases.」
While recognizing the support provided by housing acquisition measures, the company continues to indicate a decline in owner-occupied housing starts, uncertainty about the outlook, and the medium- to long-term risk of a decline in the number of households. - FY2020-Q2ReframedAnnual report
「In this industry, various housing acquisition support measures, including the extension of the mortgage tax deduction period effective from October 2019 and the Next-Generation Housing Points System, are expected to contribute to market revitalization. However, the outlook remains uncertain, with owner-occupied housing starts recently turning lower. In addition, the number of new housing starts is expected to decline over the medium to long term as the number of households decreases.」
While taking into account that housing acquisition support measures have already taken effect, the company cites a decline in owner-occupied housing starts and uncertainty about the outlook, and maintains the medium- to long-term risk of a decline in the number of households. - FY2020-Q1RestatedAnnual report
「In the housing market, the government is preparing various housing acquisition support measures ahead of the consumption tax increase in October 2019, but uncertainty about the outlook continues, and over the medium to long term, the number of new housing starts is expected to decline as the number of households decreases.」
While recognizing the support provided by housing acquisition measures, the company continues to indicate uncertainty surrounding the consumption tax increase and a medium- to long-term market contraction due to a decline in the number of households. - FY2019-Q3ReframedAnnual report
「In this industry, the government is preparing to maintain monetary easing and implement various housing acquisition support measures ahead of the consumption tax increase scheduled for October 2019, while the number of new housing starts is expected to decline over the medium to long term as the number of households decreases.」
The timing of the consumption tax increase was specified as October 2019, and monetary easing and housing acquisition support measures were also cited, while the medium- to long-term contraction of the housing market due to a decline in the number of households continues to be indicated. - FY2019-Q2RestatedAnnual report
「In the housing market, the number of new housing starts is expected to decline over the medium to long term as the number of households decreases. Although the government plans to provide housing acquisition support measures for the consumption tax increase scheduled for 2019, a post-tax-increase pullback in demand is expected to be unavoidable.」
Continues to expect a medium- to long-term contraction of the housing market due to a decline in the number of households and a post-consumption-tax-increase pullback in 2019. - FY2019-Q1WorsenedAnnual report
「In the housing market, the number of new housing starts is expected to decline over the medium to long term as the number of households decreases. Although the government plans to provide housing acquisition support measures for the consumption tax increase scheduled for 2019, a post-tax-increase pullback in demand is expected to be unavoidable.」
The factor was made more specific by changing the previous reference to population decline to a decline in the number of households, and the outlook that a post-consumption-tax-increase pullback in housing demand would be unavoidable was presented. - FY2018-Q3RestatedAnnual report
「In the housing market, the number of new housing starts is expected to decline over the medium to long term as the population decreases, and there are concerns that the overall market will cool after the consumption tax increase.」
Continues to identify the medium- to long-term contraction of the housing market due to population decline and a market downturn following the consumption tax increase as risks. - FY2018-Q2RestatedAnnual report
「In this industry, the number of new housing starts in the housing market is expected to decline over the medium to long term as the population decreases, and there are concerns that the overall market will cool after the consumption tax increase scheduled for 2019.」
Continues to identify the medium- to long-term contraction of the new housing market due to population decline and a market downturn following the 2019 consumption tax increase as risks. - FY2018-Q1RestatedAnnual report
「In the housing market, the number of new housing starts is expected to decline over the medium to long term as the population decreases, and there are concerns that the overall market will cool after the consumption tax increase scheduled for 2019.」
Continues to identify the medium- to long-term contraction of the housing market due to population decline and a market downturn following the 2019 consumption tax increase as risks. - FY2017-Q3RestatedAnnual report
「In this industry, a sharp short-term downturn in the housing market was avoided because the consumption tax increase was postponed again, but over the medium to long term, the overall market is expected to cool as the number of new housing starts in Japan declines due to population decline.」
While a sharp short-term decline was avoided, the outlook for a contraction of the domestic housing market over the medium to long term due to population decline remains unchanged. - FY2017-Q2RestatedAnnual report
「In the housing market, a sharp short-term downturn was avoided because the consumption tax increase was postponed again, but over the medium to long term, the overall market is expected to cool as the number of new housing starts in Japan declines due to population decline.」
While a sharp short-term decline was avoided, the outlook for a contraction of the housing market over the medium to long term due to population decline remains unchanged. - FY2017-Q1RestatedAnnual report
「In the short term, a sharp downturn in the housing market was avoided because the consumption tax increase was postponed again, but over the medium to long term, the overall market is expected to cool as the number of new housing starts in Japan declines due to population decline.」
While a sharp short-term decline was avoided, the outlook for a contraction of the housing market over the medium to long term due to population decline remains unchanged. - FY2016First statedAnnual report
「Over the medium to long term, the number of new housing starts in Japan is expected to decline as the population decreases, and the housing market is expected to cool depending on developments in various policies, including future consumption tax increases.」
Identifies the contraction of domestic housing demand due to population decline and policy developments as future risks.